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Legal and Financial Considerations in Divorce Flashcards

7 cards from real CDC practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.

Read the first 7 Legal and Financial Considerations in Divorce flashcards as text

  1. A coaching client asks whether she should accept her spouse's offer to keep the house in exchange for waiving her share of his 401(k). What is the most appropriate response from a divorce coach?

    Answer: Help her clarify her goals and questions, then refer her to her attorney and a financial specialist such as a CDFA

    Divorce coaches support clarity and decision-making but refer legal and financial advice to licensed professionals.

  2. Which of the following states follows community property rules for dividing marital assets?

    Answer: Texas

    Texas is one of nine community property states, along with Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Washington, and Wisconsin.

  3. Under federal tax law for divorce agreements executed after December 31, 2018, how is alimony treated?

    Answer: Not deductible by the payer and not taxable to the recipient

    The Tax Cuts and Jobs Act eliminated the alimony deduction and income inclusion for agreements executed after 2018.

  4. What document is typically required to divide a 401(k) plan between divorcing spouses without triggering taxes for the participant?

    Answer: A Qualified Domestic Relations Order (QDRO)

    A QDRO directs an ERISA-qualified plan administrator to pay a portion of the benefits to the alternate payee.

  5. A client inherited $80,000 during the marriage and deposited it into the couple's joint checking account used for household bills. What concept may cause this money to lose its separate-property character?

    Answer: Commingling

    Mixing separate funds with marital funds can make them difficult to trace and may convert them into marital property.

  6. Temporary support ordered by a court while a divorce case is still pending is commonly called what?

    Answer: Pendente lite support

    Pendente lite means 'pending the litigation' and covers support until a final order is entered.

  7. What is the primary purpose of a financial affidavit (financial disclosure statement) in a divorce?

    Answer: To provide a sworn statement of income, expenses, assets, and debts

    The financial affidavit is a sworn disclosure used to evaluate support and property division.